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The National Credit Act Explained

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ISBN/ISSN: 060040906307X
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ISBN/ISSN: 9780409126662
Published: March 10, 2016
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ISBN/ISSN: 9780409126792
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Product details

The aim of The National Credit Act Explained is to provide readers with an integrated overview to a very complex piece of legislation in a practical and systematic manner.

The fourth edition covers the National Credit Amendment Act No. 19 of 2014 and its significant implications. It also references recent far-reaching court decisions and articles by prominent academic writers.

Featured Authors

Table of contents

General Introduction and Historical Background

Introduction

History of consumer credit in South Africa

Synopsis of the National Credit Act and Basic Concepts

Synopsis of the National Credit Act

Definitions and basic concepts

Scope of the Application of the National Credit Act

Introduction

Definitions of credit agreements

Schematic illustration

Exemptions

Limited application of the Act

Small, intermediate and large agreements

Consumer Credit Institutions and Regulatory Matters

Introduction

National Credit Regulator

National Consumer Tribunal

Debt counselors

Consumer courts

Credit bureaux

Ombuds

Alternative dispute resolution agents and payment distribution agents

Resignation of role-players

Compliance procedures

Conclusion and Variation of Credit Agreements

Introduction

Pre-agreement disclosures

Form and content of credit agreements

Unlawful agreements and provisions

Alterations to credit agreements

Rights and Duties of Consumers

Introduction

Rights of consumers

Duties of consumers

Rights and Duties of Credit Providers

Introduction

Rights of credit providers

Duties of credit providers

Financial Matters

Introduction

Items recoverable by credit providers

Regulation and calculation of interest

Changes to interest rates, fees and charges

Maximum amounts and rates recoverable

Credit insurance

Dispute Settlement and Debt Enforcement

Introduction

Alternative dispute resolution

Role of the National Credit Regulator

Debt enforcement

Offences and the Jurisdiction of Courts

Introduction

Specific offences

General offences

Jurisdiction and penalties

Effect of the National Credit Act on Existing Legislation and Agreements

Introduction

Conflicting legislation

Amendment of laws

Application of the National Credit Act to existing agreements

Existing rights, duties and notices

Miscellaneous Matters

Training

Civil claims based on prohibited conduct

Examination of credit providers regarding excessive claims

Time limits of complaints

The impact of the National Credit Act on insolvency proceedings

Prohibition against interference with contractual relations by third parties

The relationship between the National Credit Act and the Consumer Protection Act